GBP/JPY may fall 87 - 131 pips

201.36 is our pivot point.

Our preference

The downside prevails as long as 201.36 is resistance.

Alternative scenario

Above 201.36, look for 202.10 and 202.53.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 201.27 and 201.96).

Supports and resistances

202.53 **

202.10 *

201.36 **

201.07

200.77 last

199.90

199.46 **

199.02 *

198.59 **

Number of asterisks represents the strength of support and resistance levels.